New Zealand Legislation: Acts
Acts are laws made by Parliament
(1) The Governor-General may, by Order in Council made on the recommendation of the Minister in accordance with subsection (2), make regulations for the purpose of—
(a) declaring any persons (whether described as a class or otherwise) not to be officers for the purpose of the definition of officer in section 2:
(b) prescribing further matters relating to a relevant interest, or acquisition or disposal of a relevant interest, that must be disclosed by directors and officers under subpart 2 of Part 2, which may include (without limitation):
(i) the nature of the relevant interest:
(ii) the number and class of securities to which the relevant interest relates or related:
(iii) the date of the disclosure obligation becoming applicable, or the date of the acquisition or disposal:
(iv) the consideration paid or received for the acquisition or disposal:
(v) details as to the circumstances in which the acquisition or disposal occurred:
(vi) the date of the last disclosure by the director or officer:
(c) determining when the disclosure in paragraph (b) is required (including by requiring disclosure only on request) and prescribing the form of or for, and the method of, disclosure, or providing for the relevant registered exchange to determine that form or method and for the way in which it must do so:
(d) exempting (on terms and conditions, if any) classes of persons, classes of transactions, or classes of relevant interests, acquisitions, or disposals from compliance with any directors' and officers' disclosure obligation or obligations.
(2) The Minister must consult with the Commission before making a recommendation under subsection (1).
Section 49: substituted, on 29 February 2008, by section 13 of the Securities Markets Amendment Act 2006 (2006 No 47).
Part 4 (comprising sections 42 to 49) was inserted, as from 1 December 2002, by section 24 Securities Markets Amendment Act 2002 (2002 No 44).